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The Republic of San Marino, the oldest and smallest republic in the world is located in north central Italy entirely surrounded by the Province of Emilia-Romagna. It has an area of 24 sq. mi. (60 sq. km.) and a population of *23,000. Capital: San Marino. The principal economic activities are farming, livestock raising, cheese making, tourism and light manufacturing. Building stone, lime, wheat, hides and baked goods are exported.The government derives most of its revenue from the sale of postage stamps for philatelic purposes. San Marino has its own coinage, but Italian and Vatican City coins and currency are also in circulation. MINT MARK SR - Rome MONETARY SYSTEM 100 Centesimi = 1 Lira |